Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Sify Technologies
So what: With two hours left in the trading day, 3.9 million shares have traded hands, more than six times the three-month average volume. There wasn't any big news out from the company today, and it looks like investors are placing their bets ahead of the company's earnings release on Friday.
Now what: Earnings information may have gotten out to traders in advance of earnings, but without confirmation, we don't really know the reason for momentum in the stock lately. Sify Technologies, which provides network data services in India, was up big on Friday as well, so technical traders are seeing plenty of reasons to jump on this momentum trade. At the risk of missing out on a further move, I'm going to stay out of the stock until we hear earnings later this week.
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